ODFI and RDFI

When an EFT is processed through Forte Payment Systems, the ODFI is their bank partner. The RDFI will vary, depending on the type of EFT.

For example:

When a resident pays online, the are two parts to the EFT. First, a request to debit funds from the resident's bank account is sent by Forte's banking partner. Then, after the merchant account's hold days have transpired, that money is released to your bank account.

In the first leg of the journey, the resident's bank is the RDFI and Forte's banking partner is the ODFI. On the second leg, Forte's banking partner is still the ODFI, but your bank account is now the RDFI.

When you send money by EFT, such as an EFT to a vendor, there are two parts to the EFT. First, a request to debit funds from your bank account is sent by Forte's banking partner. Then, after your merchant account's hold days have transpired, that money is released to your vendor's bank account.

In the first leg of the journey, your bank is the RDFI and Forte's banking partner is the ODFI. On the second leg, Forte's banking partner is still the ODFI, but your vendor's bank account is now the RDFI.